Commerce

Dollar closes at Rs128.48 at inter bank market

KARACHI (WebDesk) – The value of the US dollar on Wednesday increased to record high of Rs128.60 after a rise of 34 paisa in interbank market. Following the value of US dollar, the prices of steel products hit a record high of history during previous two days. After the increase of Rs 3000 to Rs

Read More

PSX removes Hussain Lawai as chairman

KARACHI/ISLAMABAD (Sarzameen News)- Pakistan Stock Exchange (PSX) on Tuesday announced to remove renowned banker Hussain Lawai as its chairman. The banker facing inquiry in a Rs35 billion money laundering case was arrested by the Federal Investigation Agency (FIA) on July 6. Earlier, the Securities and Exchange Commission of Pakistan (SECP) on Tuesday removed Hussain Lawai from

Read More

SBP directs banks to collect funds for dams’ construction

KARACHI (Sarzameen News)- Following the instructions of the Supreme Court, the State Bank of Pakistan (SBP) on Tuesday ordered all the commercial banks and microfinance banks operating in the country to open ‘Diamer Basha and Mohmand Dam Fund Account-2018’ to collect funds for construction of the dams. The consumers can make donations and contributions to the

Read More

PSX remains under pressure due to political chaos

ISLAMABAD (Sarzameen News) – The Pakistan Stock Exchange remain under pressure for the whole week and also during the last session before the weekend also recorded a decline owing to political happenings- announcement of Avenfield properties case against former Prime Minister Nawaz Sharif. The trend on Friday was not different and the index at the

Read More

Mobile phone imports witness rise in first 11 months

ISLAMABAD (APP) – Mobile phones imports have witnessed a phenomenal growth of 19.28 per cent in first eleven months (July-May) of 2017-18 as it remained US $ 759.969 million. During same period of July-May 2016-17, the imports registered were US $ 637.14 million. Mobile phone imports in May 2018, valued at $81.362 million, increased by

Read More

Rs752 bln released for development projects under PSDP 2017-18

ISLAMABAD (APP) – The government has released over Rs 752.14 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes against the total allocations of Rs 1,001 billion. The released funds include Rs 186.35 billion for federal ministries and Rs 66.14 billion for special areas, according to latest data released

Read More

PTCL achieves ISO Certifications for Cloud Infrastructure Services Security

ISLAMABAD (Sarzameen News)- PTCL has become the country’s first telecom operator to achieve two ISO certifications in parallel for its cloud services ‘Infrastructure-as-a-Service’ (IaaS) offering.  These are ISO/IEC 27001:2013 and ISO/IEC 27017:2015. The International Standards Organization (ISO) and International Electrotechnical Commission (IEC) are the authorities for these standards. The ISO 27017 is a Cloud security-specific standard,

Read More

Dollar hits 122 rupees in early trade

KARACHI (Sarzameen News) – Rupee again hit by storm on first day of the new week as dollar appreciated sharply against the domestic currency rising in excess of Rs 4. The dollar during the early trade hit the all time high of Rs 122 at the interbank. The magnitude of decline was unprecedented but some selling

Read More

Over Rs494mln released for revenue division projects

ISLAMABAD (APP)- The government has so far released Rs494.994 million for various ongoing and new projects of Revenue Division under the Public Sector Development Programme (PSDP) for the current fiscal year (2017-18). The government in its Federal PSDP had earmarked Rs790.100 million for the Revenue Division projects, with foreign exchange component of Rs105 million, officials

Read More

PSO says filling fuel tank posing no threat

ISLAMABAD (Sarzameen News)- Pakistan State Oil (PSO) has announced that filling fuel tank to its full capacity poses no threat of any kind to the cars or its passengers. PSO made the statement after a Whatsapp message went viral over the past few days. The message falsely claimed that PSO had warned the public against filling

Read More